Securrency, Inc., a leading developer of institutional-grade blockchain-based financial and regulatory technology, has announced a strategic partnership with leading investment management and banking firm, Musharaka Capital to develop a compliant platform for issuing digital securities in Saudi Arabia.
In line with Saudi Vision 2030, the two companies are joining forces to support private sector growth, empower SMEs, and spur innovation leading to the advancement of the capital market. The move puts Saudi Arabia at the forefront of the global digital assets universe. Digital securities introduce new levels of efficiency, security, compliance, and transparency for financial services providers and market participants.
John Hensel, Chief Operating Officer of Securrency, said, “We are pleased and honored to be working with Musharaka Capital on this groundbreaking initiative. Saudi Arabia is the largest market in the region and, by combining Musharaka’s deep financial markets expertise and our cutting-edge technology, this venture will create new opportunities for capital formation and enhanced liquidity. Together with Musharaka’s strong leadership team, Securrency aims to stimulate the growth of businesses in Saudi Arabia and streamline foreign investment into the Kingdom.”
Securrency is a pioneer of blockchain-based financial markets infrastructure technology centered on its unique identity and compliance framework to support global digital securities transactions. Securrency’s proprietary, patent-pending Compliance Aware Token™ technology provides multi-jurisdictional compliance and unprecedented convenience to financial services providers and market participants to facilitate the issuance, trading, and servicing of digital securities and other digital assets. Securrency’s technology is blockchain-agnostic and its compliance and policy-enforcement tools support ledger-to-ledger transactions across multiple blockchains.
Ibrahim Fahad Al-Assaf, CEO of Musharaka Capital said, “This is surely a Fintech leap. Such projects were not feasible a few years ago due to the lack of consumer demand. However, as the economy shifts to digital trading and consumer trends develop, we are introducing developments that didn’t exist in the Saudi market. Our ability to be dynamic and adapt to consumer needs while having an agile and well-equipped team is essential to grow and succeed in our current business environment.”